Identiv, Inc. (NASDAQ:INVE) Short Interest Down 18.9% in March

Identiv, Inc. (NASDAQ:INVE – Get Rating) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 691,200 shares, a decrease of 18.9% from the March 15th total of 852,300 shares. Based on an average daily trading volume, of 198,000 shares, the short-interest ratio is presently 3.5 days.

INVE stock opened at $12.78 on Tuesday. The business’s 50-day simple moving average is $17.01. The company has a market capitalization of $284.98 million, a price-to-earnings ratio of -1,278.00 and a beta of 1.63. Identiv has a 1-year low of $12.59 and a 1-year high of $29.00.

Identiv (NASDAQ:INVE – Get Rating) last posted its earnings results on Wednesday, March 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.13). The business had revenue of $28.52 million for the quarter, compared to the consensus estimate of $28.45 million. Identiv had a return on equity of 1.51% and a net margin of 1.56%. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, equities analysts forecast that Identiv will post 0.09 earnings per share for the current year.

In related news, CFO Justin Scarpulla bought 6,500 shares of the company’s stock in a transaction dated Tuesday, March 15th. The stock was acquired at an average cost of $15.36 per share, with a total value of $99,840.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Lp Bleichroeder bought 24,606 shares of the company’s stock in a transaction dated Monday, March 14th. The stock was bought at an average cost of $14.98 per share, with a total value of $368,597.88. The disclosure for this purchase can be found here. Over the last three months, insiders bought 116,875 shares of company stock valued at $1,771,864. 8.60% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of INVE. UBS Group AG bought a new stake in shares of Identiv in the third quarter valued at about $31,000. Royal Bank of Canada increased its position in shares of Identiv by 47.7% in the second quarter. Royal Bank of Canada now owns 2,415 shares of the technology company’s stock valued at $41,000 after acquiring an additional 780 shares during the last quarter. Citigroup Inc. increased its position in shares of Identiv by 151.5% in the third quarter. Citigroup Inc. now owns 2,472 shares of the technology company’s stock valued at $47,000 after acquiring an additional 1,489 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in shares of Identiv in the fourth quarter valued at about $62,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Identiv by 377.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,800 shares of the technology company’s stock valued at $72,000 after acquiring an additional 3,004 shares during the last quarter. Institutional investors own 61.87% of the company’s stock.

A number of equities research analysts recently weighed in on the company. B. Riley dropped their price target on Identiv from $31.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Zacks Investment Research raised Identiv from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 22nd. Finally, StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research note on Monday, April 4th.

About Identiv (Get Rating)

Identiv, Inc operates as a security technology company that secures things, data, and physical places in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.

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